Translating new GDP data into more accurate nowcasts: Norges Bank paper


A Norges Bank paper,  published on Thursday, assesses a number of methods to improve the accuracy of growth 'nowcast' models as incoming information on GDP becomes available. Nowcasts provide a contemporaneous measure of growth and are used to calculate preliminary estimates of GDP.

Knut Aastveit, Karsten Gerdrup, Anne Sofie Jore and Leif Anders Thorsrud, the paper's authors, use US real-time data to produce combined density nowcasts for quarterly GDP growth from a system of three commonly used

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